Cisco Systems (NASDAQ:CSCO) had its target price boosted by Royal Bank of Canada to $50.00 in a report released on Thursday. Royal Bank of Canada currently has an outperform rating on the network equipment provider’s stock.
A number of other equities research analysts have also issued reports on the stock. Wells Fargo & Co reiterated a positive rating and set a $52.00 target price (up from $47.00) on shares of Cisco Systems in a report on Thursday. BMO Capital Markets increased their target price on shares of Cisco Systems from $36.00 to $43.00 and gave the stock a market perform rating in a report on Thursday. Barclays increased their target price on shares of Cisco Systems to $50.00 and gave the stock an overweight rating in a report on Thursday. KeyCorp set a $49.00 target price on shares of Cisco Systems and gave the stock an overweight rating in a report on Thursday. Finally, Piper Jaffray Companies set a $48.00 target price on shares of Cisco Systems and gave the stock a buy rating in a report on Thursday. Eleven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $43.57.
Cisco Systems (NASDAQ:CSCO) traded up $0.44 during trading hours on Thursday, hitting $44.52. 28,530,544 shares of the company were exchanged, compared to its average volume of 30,347,551. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.87 and a quick ratio of 2.81. The stock has a market cap of $219,990.00, a PE ratio of -139.13, a P/E/G ratio of 3.78 and a beta of 1.23. Cisco Systems has a 1 year low of $30.36 and a 1 year high of $45.13.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. The firm had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.82 billion. Cisco Systems had a negative net margin of 3.00% and a positive return on equity of 16.84%. During the same quarter last year, the company posted $0.57 EPS. equities analysts predict that Cisco Systems will post 2.23 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th will be issued a $0.33 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, April 4th. This represents a $1.32 annualized dividend and a dividend yield of 2.96%. Cisco Systems’s payout ratio is presently -362.50%.
Cisco Systems announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 14th that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other news, insider John T. Chambers sold 250,000 shares of Cisco Systems stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total value of $9,125,000.00. Following the sale, the insider now owns 712,736 shares of the company’s stock, valued at $26,014,864. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Prat Bhatt sold 2,606 shares of Cisco Systems stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total transaction of $95,092.94. Following the completion of the sale, the chief accounting officer now directly owns 89,184 shares in the company, valued at approximately $3,254,324.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 348,643 shares of company stock worth $12,892,271. Insiders own 0.05% of the company’s stock.
Large investors have recently modified their holdings of the company. Northern Oak Wealth Management Inc. raised its position in Cisco Systems by 2.7% during the fourth quarter. Northern Oak Wealth Management Inc. now owns 238,989 shares of the network equipment provider’s stock worth $9,153,000 after acquiring an additional 6,194 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in Cisco Systems by 48.9% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 281,207 shares of the network equipment provider’s stock worth $10,770,000 after acquiring an additional 92,300 shares during the last quarter. Slow Capital Inc. acquired a new position in Cisco Systems during the fourth quarter worth about $2,641,000. Banco de Sabadell S.A acquired a new position in Cisco Systems during the fourth quarter worth about $8,434,000. Finally, Archford Capital Strategies LLC raised its position in shares of Cisco Systems by 33.1% in the fourth quarter. Archford Capital Strategies LLC now owns 9,332 shares of the network equipment provider’s stock valued at $357,000 after buying an additional 2,322 shares during the last quarter. 75.42% of the stock is currently owned by institutional investors and hedge funds.
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About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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